As a Real Estate Investor it is very important to keep an updated Schedule of Real Estate Owned. Odds are, when you’re buying an investment property, your lender is going to ask you to send them your schedule of real estate owned. Below we will breakdown what you will need on this document. This document is fairly simple to put together in Excel or Google Sheets. We’ll walk you through the process!

Column A – Full Address

Make sure you have the full address and be specific. Add the city, state, zip code, etc. 

Column B – Number of Units

Is the home single or multi-family? How many different living spaces are on the property?

Column C – Acquisition Price

What was the original purchase price of the property? Add it here!

Column D – Estimated Market Value

Do you have a current CMA or appraisal? If not, get on good ol’ zillow and see what the zestimate is. Ballpark numbers are good but don’t over or underestimate.

Column E – Existing Debt

How much money do you currently owe on the property? If you don’t owe anything on the property just put $0 or N/A. Your lender may also ask for a recent mortgage statement.

Column F – Monthly Loan Payment

If you still have a mortgage on the property, what are your monthly payments? If the loan is paid off, put $0 or N/A. 

Column G – Monthly Rent

If you still have this property as a rental, what is the monthly rent? 

Column H – Annual Property Taxes

What is the total amount you pay in a year for property taxes?

Column I – Annual Insurance

What is the annual insurance cost on the property? 

Column J – Annual HOA

If your property has an HOA, how much do you pay annually?

Your schedule of real estate owned should look something like this

See, it isn’t too bad is it? It’s important to keep it updated because after time goes by it’s not as easy to go back and find all of this information. Especially for you investors who are buying multiple properties. If I called you right now and asked you the address of all your properties, would you be able to tell me in less than 5 minutes? Documentation is very important, because I’m sure you are aware, things get messy! If you need help putting this together or getting your business organized in general, call us! We can help you get your business running more efficiently! Or if you’re looking for Private/Hard Money loans for your investment properties, we can help you get financed! Call us! 719-569-0464

-Legacy Frontline Team